Dollar Index Technical Analysis: bullish ranging above 200 day SMA
by
, 12-20-2015 at 04:48 PM (1056 Views)
D1 price is located above 100 day SMA (100-SMA) and 200 day SMA (200-SMA) for the ranging within the following key reversal support resistance levels:
- 100.51 resistance level located above 100-SMA/200-SMA in the primary bullish area of the chart, and
- 97.22 support level located on the border between the primary bearish and the primary bullish trend.
The price is trying to break 99.29 intermediate resistance level to above, and RSI indicator is estimating the ranging comdition to be continuing.
- If the price will break 100.51 resistance level so the bullish trend will be continuing.
- If price will break 97.22 support so the reversal from the primary bullish to the primary bearish market condition will be started.
- If not so the price will be ranging within the levels.
Resistance
Support
100.51 97.22 N/A 94.25
- Recommendation to go short: watch the price to break 97.22 support level for possible sell trade
- Recommendation to go long: watch the price to break 100.51 resistance level for possible buy trade
- Trading Summary: ranging
SUMMARY : ranging
TREND : bullish